Big Banks Partnering With Coinbase on Crypto Pilots, CEO Says

Some of the largest banks are working with Coinbase Global Inc. on pilots surrounding stablecoins, custody and trading, the cryptocurrency exchange’s chief executive officer said on Wednesday.

“The best banks are leaning into this as an opportunity,” Coinbase CEO Brian Armstrong said, without specifying banks by name. “The ones who are fighting it are going to get left behind.”

Armstrong appeared alongside BlackRock Inc. CEO Larry Fink at the New York Times Dealbook Summit where most of the discussion centered around crypto and tokenizing non-crypto assets. The discussion comes at a time when prices have been in a stop-and-start freefall ...